Tamboran Resources says global warming target 'unattainable'

Tamboran Resources has also claimed that opening up the Beetaloo sub-basin gas fields in the Northern Territory - which the Greens have described as a "climate bomb" - represents the single largest emissions reduction project in Australia.

A leading climate scientist said claims that the 1.5 degree temperature target was out of reach was scientifically wrong and contradicted the latest IPCC studies.

Greens leader Adam Bandt has also argued "no amount of spin" from the gas industry would change the fact that opening up the Beetaloo Basin would increase pollution, as he repeated calls for a ban on new fossil fuel projects.

Tamboran's arguments are set out in a three-page submission to a Senate inquiry which is probing the Albanese government's signature climate change bill, which last week passed the lower house.

The bill would legislate a 43 per cent 2030 emissions reduction target and net zero by 2050, task the Climate Change Authority with advising on future targets and require the minister to make an annual progress statement to parliament.

The legislation is widely expected to pass the upper house with the support of the Greens and crossbenchers including David Pocock, but not before it comes under scrutiny from a Senate committee in the coming weeks.

In its submission to the committee, Tamboran Resources welcomed the new government's attempts to limit Australia's contribution to climate change and meet its obligations under the Paris Agreement.

But the company was pessimistic about whether the more ambitious Paris target could be met, referencing a World Meteorological Organization report from May which said there was 50:50 chance that the 1.5 degree threshold would be reached in the next five years.

The submission argued that while the world still had the ability to avert warming of 2 degrees above pre-industrial levels, there seemed to be a "growing reality" that the 1.5 degree threshold would be breached in the next few years regardless of what actions were taken - especially in Australia.

It warned the Albanese government against including reference to 1.5 degrees in the objectives of the bill, fearful that it could be weaponised by environmental activists to delay or defeat projects through the courts.

"By including an Australian legislated objective that will be reached very soon at the global level, and in which Australia has a very little influence on, it will likely provide additional ammunition to 'lawfare' lawsuits in Australian courts on the grounds that legitimate Australian projects are incompatible with an unattainable global target," the submission stated.

Tamboran recommended that the Paris target of keeping global warming to "well below" 2 degrees remain a part of the bill's objectives.

Climate Analytics chief executive Bill Hare rubbished Tamboran's arguments.

"The company's claim that that 1.5 degrees Paris Agreement is lost is scientifically wrong and contradicts IPCC assessments," he said.

"It is indeed the expansion of gas that is one of the major threats to whether or not the world can reduce emissions fast enough to ensure that we can limit warming to this level."

The company argued that environmental litigation sought to prevent "incremental climate-improving projects", which left Australia and the global economy with a legacy of higher emissions.

Tamboran Resources is among the companies wanting to tap into the Beetaloo sub-basin about 500 kilometre south-east of Darwin, which has become one of the most politically-charged fossil fuel projects in Australia.

Advocates say the basin has the potential to deliver huge domestic and overseas gas supplies, create thousands of jobs and inject billions into the Northern Territory and Australian economies.

But opponents say opening up the basin would be a disaster for the climate and landholders and make it impossible for Australia to meet its Paris commitments.

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Tamboran Resources attempted to quash that argument in its submission, claiming the Beetaloo sub-basin is "without a doubt" Australia's largest opportunity to reduce global greenhouse gas emissions.

The argument is the development of natural gas from within the basin can be used to displace coal.

It estimated that using its natural gas and displacing coal power generation would have delivered the equivalent of a massive 12 per cent reduction in Australia's total greenhouse gases in 2021.

"Global experience has shown that gas has a central role to play in displacing greenhouse gas emissions from coal-fired power production, which the [is] the dominant form of power generation both in Australia and overseas," the submission stated.

Dr Hare said the argument that liquified natural gas could be used to reduce emissions and help meet the Paris goals didn't stack up.

"In fact, increased LNG exports are likely to displace or slow down investments in renewables come out which are by far the cheapest option in most regions of the world," he said.

ANU Institute for Climate, Energy and Disaster Solutions director Mark Howden said once all the greenhouses produced during the natural gas supply chain were accounted for, it "does not look much cleaner than coal".

"The solution is to move to renewables, not to a slightly less dirty fuel," Professor Howden said.

Mr Bandt, who campaigned heavily against the Beetaloo project during the federal election, slammed Tamboran's submission.

"The gas industry would rather the government sign off on widespread crop failures, water insecurity, extreme heat and flash flooding rather than take reasonable steps to avert the worsening of the climate crisis," he told The Canberra Times.

"No amount of spin from the gas grifters changes the fact that the Beetaloo Basin project will lift Australia's pollution by up to 13 per cent.

"Fracking the Beetaloo Basin is impossible if the government wants to meet even its weak 43 per cent target.

"There's no room for new coal and gas in our future."